Originally Posted by Siegfryd
China is also #92-96, GDP doesn't mean squat.
It means plenty, just not in all circumstances. It's used to calculate purchasing power parity for one (roughly equates the purchasing power of the average citizen, ie standard of living).
China also happens to have only 3x the gdp with about 6.5x the population, in 112.75% of the space (9.6 mil sqkm to 8.5 sqkm)
Originally Posted by wikipedia
In economics, purchasing power parity (PPP) asks how much money would be needed to purchase the same goods and services in two countries, and uses that to calculate an implicit foreign exchange rate. Using that PPP rate, an amount of money thus has the same purchasing power in different countries. Among other uses, PPP rates facilitate international comparisons of income, as market exchange rates are often volatile, are affected by political and financial factors that do not lead to immediate changes in income and tend to systematically understate the standard of living in poor countries, due to the Balassa–Samuelson effect.